The Californian port of Long Beach has reached a tentative agreement on a 40-year, USD4.6 billion lease with Orient Overseas Container Line (OOCL), one of the world’s largest transport and logistics companies. The contract is purported to be the largest deal of its kind for any US seaport. , said Port of Long Beach Executive Director Christopher Lytle. The port is investing USD1.2 billion to develop the new 300-acre-plus Middle Harbor terminal. OOCL and Long Beach Container Terminal (LBCT) will invest approximately USD500 million in the latest cargo-handling equipment, which will double existing capacity.